Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Seven listed companies of the Adani conglomerate – controlled by one of the world’s richest men Gautam Adani – have lost a combined $48 billion in market value and U.S. bonds of Adani firms have fallen since Hindenburg on Tuesday flagged concerns about debt levels and the use of tax havens. “MSCI is closely monitoring publicly available information regarding the situation and the factors that may impact the eligibility of those relevant securities for the MSCI Global Investable Market Indexes,” it said in a statement. Adani Group did not immediately respond to Reuters request for comment. It has dismissed the Hindenburg report as baseless and said it was considering whether to take legal action against the New York-based firm. India’s capital markets regulator was studying the Hindenburg report as it may help its own probe into offshore fund holdings of Adani Group, Reuters reported on Friday. Billionaire U.S. investor Bill Ackman on Thursday described the Hindenburg report “highly credible and extremely well researched”.
Related Articles
Make-in-India drone ferries COVID vaccines in Manipur
By Administrator_ India Capital Sands First time in South Asia, a ‘Make in India’ drone transported COVID-19 vaccines over an aerial distance of 15 km in 12-15 minutes in Manipur on October 4. Union Health Minister Mansukh Mandaviya on Monday launched the Indian Council of Medical research (ICMR) Drone Response and Outreach in North East […]
Indian Railways will never be privatised: Piyush Goyal in Lok Sabha
By Administrator_India Capital Sands Railways Minister Piyush Goyal on Tuesday asserted that Indian Railways will never be privatised but said private investment should be encouraged for more efficient functioning. Replying to a discussion on Demands for Grants for Railways, Goyal said there has been no death of any passenger due to a rail accident in two years […]
Celebrity Bhagyashree Presents Awards to Notable Personalities.
Dehradun, July 15, 2023 – Three Finger Entertainment Limited organized the Excellence Iconic Awards today at a hotel “The Emerald Grand” located on “Near SGRR School, Sahastradhara Road, Dehradun, Uttarakhand”, where distinguished personalities from various states of the country were honored for their remarkable and commendable work. The awards were presented by renowned film […]